USI Real Estate Advisors LLC vice chairman Robert B. Emden and senior vice president Gerard Picco represented RBC Dain Rauscher in the transaction. Cushman & Wakefield senior director John Picco and director Mitch Arkin represented the ownership. Occupancy is slated for June. Details of the 13-year lease have not been disclosed.

"This is a consolidation move for Dain Rauscher," says Emden. "Following the events of 9/11, my colleague, USI vice president Terence Cooney, arranged for Dain Rauscher, which had been headquartered at One World Financial Center, to lease fully built-out temporary office space at 3 Times Square, in addition to the office space it had already been leasing in Midtown at 666 Fifth Avenue. The firm had long been eager to regroup its 200-employee New York workforce in one building, and after developing a strategic plan for consolidation, we executed the lease at 1211.

"Dain Rauscher is an alliance client of USI, which means we handle all of the firm's commercial real estate needs in the US," Emden adds. For example, in support of Dain Rauscher's in-house project management team in Minneapolis, Michael Firriolo, USI Director of Design and Construction Services, is providing local project management support for the build-out of the new space."